Hello, Wine Abbers. My name is Jesse Meekham and this is podcast number 114 for you need a budget

where we teach you four rules to help you stop living paycheck to paycheck, get out of

debt and save more money. When you're first starting out with your budget, a lot of times in your zeal,

you become overzealous. And I'm speaking specifically about your category structure.

In Wineab we offer you a default category structure you can change it as much as you want.

My fear though is that a lot of you, especially the newer people, make it too complicated.

You go too granular. Now there is a reason to go granular and that comes from that age old principle what is measured is

improved so if you have a massive to go on one extreme massive miscellaneous

category where a large percentage of your overall spending

is in that miscellaneous category, it might behoove you to examine it closely, look at its contents, and determine if some of those things

couldn't be broken out into more manageable and measurable categories.

I don't think most of you as beginners have this problem.

You go the opposite direction.

You make what I call the toothpaste category where you go way way to specific.

In my personal budget we have a category called fixed for bills and on that fixed category there's a

note that tells me all of the different fixed bills that I have, how much they are,

and I might have put when they're due, maybe not,

life insurance, property taxes,

I think Netflix might be on there. We used to have a cross-fit gym

membership on there, but we went to a different membership program with that gym.

So that's not there anymore. We had all sorts of just fixed larger less frequent expenses,

rule two, save them for those rainy days. And then I just break it out and say

...